www.swift.state.mn.us

State of MinnesotaStatewide Integrated Financial

Tools

AR-BI 3: Accounts Receivable Advanced

2

Objectives – Accounts Receivable Advanced

Define terms Explain the relationship between AR and

Billing Introduce the processes and features of

Accounts Receivable Advanced

3

Lesson 2: Creating DepositsStep 1: Create deposits

Step 3: Review deposits

Step 4: Correct errors

Step 2: Apply payments

You do thisSWIFT process

Legend

* for misc. cash (direct journal deposit)

Regular Deposit

Express Deposit

Create depositjournal entries

Run Payment Predictor

Run AR Update

Payment Worksheet

Run QueriesCorrecterrors

4

Lesson 3: Applying Payments

You do thisSWIFT process

Legend

* To see results/exceptions

Payment Predictor

Runs

Run Queries/Reports*

Manually applyexceptions

5

Lesson 3: Applying Payments - Term

Payment Worksheet: a payment processing tool that allows you to match items to payments

6

Lesson 3: Applying Payments –Payment Worksheet

* Pick items to apply payment(s) to

Payment Worksheet

You do thisSWIFT process

Legend

*Pick payments to work with

Step 1:Create Payment

Worksheet*

Step 2:Payment

WorksheetApplication*

Step 3:Post

the item(s)

7

Lesson 4: Processing Refunds

You do this

AR Lifecycle

Legend

Create Refund on

Maintenance Worksheet

Run Receivables

Update

Run Receivable

Refund

APpays

refund

Customer & Vendor must be linked together for this

process to work

8

Lesson 5: Perform AR MaintenanceUse these options on an as-needed basis

* Using the Item Details pageYou do this

AR Lifecycle

Legend

Maintenance Worksheet for Refunds, write-offs and offsets

Update ItemDetails

Transfer Worksheet

Place Item in

Dispute

9

Lesson 5: Perform AR Account Maintenance - Maintenance Worksheet

* Pick items to apply payment(s) to

Maintenance Worksheet

You do thisSWIFT process

Legend

* Pick items to work with

Create MaintenanceWorksheet*

MaintenanceWorksheet

Application*

Post The

item(s)

10

Lesson 5: Perform AR Account Maintenance - Transfer Worksheet

* Tell SWIFT where to transfer the bill

Transfer Worksheet

You do thisSWIFT process

Legend

*Select bill to transfer

Create TransferWorksheet*

TransferWorksheet

Application*

Postthe

Item(s)

11

Lesson 6: AR Integration

Updates customer balances

Creates journal entries

Runs budget check

Posts payment to customer account

You do thisSWIFT process

Legend

Run Receivables Update:

View Posting Status

Run Query forError Check

CorrectErrors

12

Lesson 7: Managing Customer Collections

Review Statements

Send Letters

Step 1: Create and send statements

Step 2: If no or incomplete customer action, create and send dunning letters

Step 3: If still no or incomplete customer action, refer customer to Collections

Send Statements

View Dunning Status & History

Run the Collections

Query

Send to Collections

Run the AgingProcess

CreateCustomer

Statements

Run Aging, Overdue

Charging,AR Update

Create DunningLetters